Housing Ministry grants 31,170 VAT waivers in Saudi Arabia
Date
3/17/2019 3:50:46 AM
(MENAFN) Saudi Ministry of Housing announced 31,170 value-added tax (VAT) waivers to have been distributed among first-time purchasers of properties as part of a plan effective until last month.
In a statement, the Saudi housing ministry confirmed that it handed over 19,470 exemption certificates to beneficiaries.
This comes after the Real Estate Development Fund (REDF) issued 5,902 exemption certificates while more entities released 5,792 certificates.
King Salman declared in January that Saudi Arabia will handle VAT when it comes it selected satiations like first-time homebuyers.
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